Stock market dive's effect on higher ed portfolio unknown
By Frale de Guzman
Emerald Reporter
Despite a 508 point drop in
the stock market Monday, the
effect of this decline on in
vestments made by the Oregon
State System of Higher Educa
tion remains unknown.
"We won’t know the impact
of what happened Monday un
til we get our monthly state
ment of accounts,” said Steve
Katz, controller for the State
System. Because 60 percent of
the State System’s investment
transactions are handled by
The Common Fund, an invest
ment firm based in Connec
ticut, monthly statements for
the month of October will not
be available until mid
November, Katz said. As a
result, until October’s state
ment arrives, the effect of the
stock market’s 50ft point
plunge on the department's
common stock portfolio con
tinues to remain a mystery.
However. Katz remains op
timistic precautionary
measures have been taken by
The Common Fund to
safeguard their investments. As
of June 30, market value of the
State System's endowment
fund totaled $40 million.
Because of the uncertainty
involved. Katz feels that “to
panic at this stage of the game
would be inappropriate.”
Katz said the drop in the
market “may not have a large
effect on a large entity like the
Common Fund." Because the
agency commonly handles the
investments of universities and
colleges around the nation,
"investors may have foreseen
the drop in the market and sold
early." Katz said.
This seemingly optimistic
view is echoed by lames Tatter
sail. head of the University
economics department Accor
ding to Tattersall. although the
508 point drop in the market
currently "seems to be a
traumatic development, over
time it may not seem as
cataclysmic.”
However, Tattersall admits
this huge decline in the market
"could lie the forerunner of an
economic recession." Hut. he
added, unlike the economic
depression that resulted from
the stock market crash in 1920.
"it is highly unlikely that it
will be the forerunner of a col
lapse in the economy "
Although this fear still may
be present. Tuesday’s 125 point
increase in the market seems to
indicate people have managed
to "get over the panic phase
and are moving in to buy stocks
that are being sold at relatively
low price*," Tattersall said
However, people may Ih< see
ing "a temporary end in a five
year-old bull market." he said
This decline may bo the
result of people’s growing un
willingness to invest in the
American market Although
some people currently am tak
ing advantage of the huge drop
in stock prices, there are many
who have a pessimistic outlook
towards the future of the U S.
economy. Tattersall said As a
result, many of these people are
hesitant investors and are simp
ly waiting to see what will hap
pen Indore making a move.
In addition, the drop in the
stock market may simply he the
result of a long-awaited correc
tion. "We've had a bull market
since 1982 and in 1988 and
1987. there was an additional
surge in the market." Tattersall
said In fact, the market peaked
this year at 2,700 (points), ho
said And as a result, the
market was long overdue for a
correction.
However, Tattersall added,
the sharp decline in the market
can also be attributed to in
creased technological efficien
cy. As a result of the computer
age. "enormous volumes of
transactions can do a lot of
business in one day and it is
possible to have a huge number
of stocks change hands." he
said
For whatever the reason, the
508 point decline in Monday's
market has effectively served to
remind the public that an
economic recession may be
unavoidable. However,
"whether one (economic reces
sion) will result quickly
because of the drop in the stock
market, is still too early to ac
cess," Tattersall added.
Three-day symposium to bring attention to child abuse problem
By Mike Drummond
Emerald Associate Editor
The perennial issue of child
abuse has been swept under the
rug of public awareness in light
of other mounting social pro
blems. such as AIDS, drug
abuse and crime, according to
Dave Zieglar. an employee at
the Springfield Child Abuse
Resources Center.
The Child Abuse Resources
Center, in conjunction with the
University’s Department of
Human Services is holding a
symposium Oct. 21-23. to com
bat what Zieglar deems as
public apathy for one of this na
tion's most tragic social ills
The symposium will be held
at the Red Lion Inn, 3280
Gateway Rd.. in Springfield.
The three-day symposium
will include workshops for
identifying adult sex offenders,
sessions for pediatricians and
educators and a day devoted to
multiple-personality disorders.
Zieglar said
”1 expect this to be one of the
best technical conferences, if
not the best conference, on the
subject of child abuse this
year," Ziegler said.
According to national
statistics, child abuse is on the
rise in the United States. And
closer to home. In 1985 Oregon
had the dubious distinction of
leading the nation in newly
reported cases of child abuse.
Zieglar cited other alarming
statistics. The stale has more
ubusml children in its custody
than ever Indore; 95 percent of
males in the Oregon State
Hospital's sex-offender ward
were themselves victims of
child abuse, und H5 percent of
incarcerated felons in the
Oregon State Penitentiary were
abused children.
According to Zieglar. the lat
ter correlation “is the most
common denominator" linking
felons.
Zieglar anticipates the sym
posium will draw .100 |o 400
[M'oplo. and hi* expot Is space Id
accommodate people will lx* a
problem because participants
are converging on the con
ference from all over the United
States.
Kegistration for the con
ference continues today from
7:30-9 a m at the Red Lion inn
The cost is Si55 for the general
public and $75 for students.
One -day registration is
available at $75 for the public
and $30 for students.
Et al.
MEETINGS
The Newman Center. 1850
Emerald St., will hold a Bible
study and student mass at 9
tonight.
The HO Pre-Law Association
will meet this afternoon at 4 in
164 Oregon Hall
Pre .Med preceptorship pro
gram will meet tonight at 5:30
in Century Room B. KMU.
Alpha Kappa Psi will hold a
general meeting at 6:30 tonight
in 337 Gilbert Hall.
The (Allege Republicans will
meet today at 5:30 in Century
Room E. EMU.
The Sociology Honor Society
will meet at 5:30 today in 714
PLC
Men Against Rape will meet
at 7:30 tonight in Century Room
B. EMU
OSPIRG recycling group will
meet tonight at 5 in 337 EMU.
Truman Scholarship applica
tion procedures will be discuss
ed today at 3 in Century Room
A. EMU.
LECTURES
Kevin Yang will present a
slide show on the National
Parks of Costa Rica in 10K Con
don Hall. For further info call
686-5006.
Nora Cromely, admissions
director of Oregon Health
Sciences University Dental
School will answer questions
and discuss admission re
quirements to the school
tonight at 7 in the EMU Forum
Room.
MISCELLANEOUS
American foreign policy and
dissent is the focus for a live
satellite teleconference in IMC.
studio A. between 5 and 7
tonight.
BACKGAMMON TOURNAMENT!!
FRIDAY, OCT. 23rd
7:30 PM • EMU Rec. Center
PRIZE: One "Arles" Backgammon Board
donated by EUGENE TOY AND HOBBY
32 East 11th
344-2117
Entry Fee: $1
Sign up at the REC CENTER
or call 686-37 1 1
BY OB
-emu
Taste the
International
Experience
The word is out Now you can
enjoy delicious Chinese and
other international food at the
most reasonable prices Try
our mouthwatering Indonesian
Fried Rice or tempting
j Singaporean Curry Chicken
You'll love it!
)
SKYLIGHT-TO-GO
(above the EMU mam desk)
Lunch 10 30-2 30 M-F
SnacKs 5-10 M-Th
l